Taxes
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Taxes
| Sat, 09-06-2008 - 1:17pm |
Found this summary on the Obama Facebook page but I checked out the website and the summary is accurate according to the nonpartisan Tax policy Center.
The nonpartisan Tax Policy Center found that Mr. Obama's plan would amount to a tax cut for 81 percent of all households, or 95.5 percent of those with children. The center calculated that by 2012 the Obama plan would let middle-income taxpayers keep about 5 percent more income on average, or nearly $2,200 a year, while Mr. McCain would give them an average 3 percent break, or about $1,400. The richest 1 percent would pay an average $19,000 more in taxes each year under Mr. Obama's plan but see a tax cut of more than $125,000 under Mr. McCain.






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I think the 250,000 is what the business owner gets to keep for themselves, not the revenue the owner is making on his business and his expenses to RUN his business,example,electricity, paying for his help,etc. The 250,000 is the owners NET from his business after all expenses are paid.
This has been my assumption as well.
his ?? I'm a female an own a business
Me, too, but I would have used "his" as well in the general people sort of way just like we use "you" instead of "one."
<<While controversy continues about the precise magnitude of the supply-side effects, the view that marginal tax rates in excess of 40 percent exert a destructive influence on the incentive of people to work and use resources wisely is now widely accepted among economists.>>
This is from a conservative site.
<This is from a conservative site.
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